US President Barack Obama on Friday claimed a mandate to raise taxes on the rich to pay for deficit reductions, firing his first post-election shot in a year-end budget showdown with Republicans.
“We can’t just cut our way to prosperity. If we are serious about reducing the deficit, we have to combine spending cuts with revenue, and that means asking the wealthiest Americans to pay a little more in taxes,” he said.
Obama warns taxes must rise on rich
